U.K. Finance Regulator bars crypto exchange Binance Markets Ltd. in a tough regulatory decision. The crackdown sprung amidst concerns by firms to meet anti-money laundering standards.
Binance Markets Ltd., has been given till the 30th of June by the Financial Conduct Authority U.K., to essentially remove all advertising and financial promotions. The exchange must also ensure that their website and social media platforms concisely state that they are no longer allowed to operate within the U.K.
In spite of the recent turn of events, Bitcoin gained on Monday, trading 5.1% higher at $35,309. Many crypto experts in the industry often regard such regulatory measures as a sign that the market is maturing. More support for the market is emerging from other demographics and corners of the globe such as in gold-centric Indian households as well as amongst the Mexican affluent.
Published 28th June 2021 | 5:30 pm